Gold Juniors

[JBmurc]

I am not sure if these are juniors but the production is good news but the costs of production are as follows;
RMS $1,250oz
SAR $1,075oz
Doray $1,000oz

I was going to say the price of gold is $1,095 an oz so not a lot of margin. I guess the price is in $US and maybe the costs are $AUD. If not it doesn't sound like there is too much to get excited about.

https://au.news.yahoo.com/thewest/wa...erly-guidance/
https://au.news.yahoo.com/thewest/wa...lid-quarterly/
https://au.news.yahoo.com/thewest/bu...ng-production/

Your find in RMS case the $1250oz is a est AISC in AUD ...which they stated they will bet so more likely 1200 so least $300 EBIT per oz so at 27koz =$8.1mill+ AUD compare that to say 90% of the ASX miners that are losing millions per Qtr ...and I know who I'd rather invest in..

AUD Gold 1580oz

[babymonster]

Very good margin

[JBmurc]

Yes PRU my favourite in that list ...huge cash balance .. looks to be well run ..unloved by the general market ... has a large growth profile in place..certainly on by BUY list for 2016 low 30's at current GOLD price

.Currently only holding two shares NKP - MKO ...goal is these two will go very well before mid year ...

I did talk with MKO-MD Michael Ruane yesterday .. and it does very positive for MKO for 2016 ...the Bronzewing 2.3mtpa!! plant is in great condition (replacement value 80mill+) MKO valued @ 11mill

there is some drill results to be announced very soon which sound to be very promising ..230koz Gold resource so far for MKO

Also ongoing toll treatment talks will be finalised with one party in the near term ...(yes or no)

One party nearby wanted $45mill for 150k Gold reserve .....so no go at those dreamland levels(maybe J.V could be worked out here)

Bronzewing is only 45-60kms from RMS new high grade projects (much closer than RMS plant) Michael has been in talks with RMS on a plan once the higher grades have been mined out as it simply wouldn't be economic to transport 1-2g/t bulk ore twice as far ....MR also stated to RMS on takeover option etc

Bronzewing can process ore round $18 per ton ..does sound like under NAV bronzewing processed hard feedstock so has been built strong to handle it ...

MD Michael Ruane holds 132mill shares of the 441mill with a average paid round 3c !! so he has pumped in near $4mill that's putting your money where your mouth is .....and he wants to BUY more but can't under the ASX creep rules ..

[babymonster]

these two are not very liquid....

[JBmurc]

these two are not very liquid....

Yes they are and for good reason with both very tightly held with max only 10% of their outstanding shares held by non-long term core shareholders ....

Not day trading shares ... I have no issue with the low to nil volumes traded as I'm not after 20-30% swing trade here but 200-300% return

then the likes PRU,ATC,PGO,S32,STO,RIO will be on the buy list

[Gleaming]

MOY is worth a look at, company Directors are filling their boots.

[JBmurc]

Yes I agree MOY does look good from latest Qtr report

Strong December Quarter sees Millennium hit upper end of 2015 guidance

December Quarter free cash flow of A$5.2 million; set to be debt-free by 31 March 2016

 Strong December Quarter at Nullagine Gold Project in WA with production of 22,503 oz at AISC of A$1191/oz

 Total production for 2015 of 91,462 oz (upper end of revised guidance) at an AISC of A$1175/oz (below guidance)

 Free cash flow for December Quarter totalled A$5.2 M (before financing costs)

 Senior debt cut by another A$2.4 M to A$3.7 M; on track to be debt-free by the end of March 2016

 A$11.4 M cash at hand as at December 31, 2015 Ongoing aggressive exploration campaign to grow Mineral

Resource inventory and mine life delivers early success Millennium Minerals Limited (Millennium or Company - ASX: MOY)

is pleased to advise that an outstanding performance at its Nullagine Gold Project (Project) in WA resulted in the Company generating A$5.2 million in free cash flow (before financing costs) during the December Quarter.

The Company produced 22,503 ounces in the December Quarter at an all-in sustaining cost (AISC) of A$1191/oz.

This took total production for the financial year1 to 91,462 oz (being at the upper end of guidance of 88,000 oz – 93,000oz), and achieved at an AISC of A$1175/oz (below AISC guidance of A$1190/oz – A$1240/oz).

Millennium increased production guidance and reduced cost guidance in October last year as it succeeded in improving mined ore tonnages, milled head grades and processing plant throughput - while also delivering annualised savings of more than A$12 million.

The strong December Quarter result enabled Millennium to reduce its senior bank debt by a further A$2.4 million to A$3.7 million, as well as delivering a A$1.6 million reduction in lease obligations from A$1.9 million to just A$0.3 million

Millennium expects to retire all senior bank debt by the end of this current quarter. With its sub- ordinated debt repaid in full following last month’s A$21 million capital raising, this will leave the Company completely debt-free.

The combination of the strong operational cash flow and the remaining proceeds of the recent capital raising left the Company with A$11.4 million cash on hand as at December 31, 2015.

As indicated in the recent capital raising prospectus, Millennium has earmarked a significant portion of this cash to fund an aggressive exploration campaign in the Project area to grow mineral inventory and mine life.

This program has already delivered success, with excellent drilling results returned from four prospects at the Project in the final weeks of last year (ASX release December 22, 2015).

Millennium Chief Executive Glenn Dovaston said the outstanding December Quarter results reinforced the Company’s turnaround strategy – which has delivered increased production at reduced AISC, providing strong free cash flows.

“This robust cash flow generation places us well on track to be completely debt-free by the end of March 2016,” Mr Dovaston said. “And, with the exploration campaign returning highly promising results, I am confident that Millennium will continue to go from strength to strength.”

[JBmurc]

And there goes MKO-MD Michael Ruane ..loading on up another 480k shares

Well what do they say about mgmt buying there own shares on market .....

[Daytr]

I hadn't been keeping up with MOY. I was involved in financing them a deal I inherited and was never a fan of.
It wasn't long ago I was thinking they may go broke!

[BlackPeter]

And there goes MKO-MD Michael Ruane ..loading on up another 480k shares

Well what do they say about mgmt buying there own shares on market .....

Usually a good sign, but does not always work. Just remember when TRY's management filled their boots a couple of years ago - and look where they are now